Benefits for owner-customers as policyholders

The insurance discounts are determined on the basis of your customer relationship and the total number of your policies. When you have policies from three different categories, you get a 7% discount on

• home and other property insurance,
• personal insurance (not including life insurance),
• continuous travel insurance and
• voluntary motor insurance, in other words comprehensive motor vehicle insurance.

As an owner-customer, you will get a further 3% off most insurance policies for a total discount of about 10%.

The insurance categories are:

1. Motor liability insurances: Statutory motor liability insurance
2. Comprehensive motor vehicle insurances: Voluntary motor insurances
3. Personal insurances: Health insurance for adults, children or unborn children, and disability and living allowance insurances (discount not applicable to life insurances)
4. Continuous travel insurances: Continuous traveller’s insurance and luggage insurance
5. Property insurances: Home insurance, valuables insurance, animal insurance, boat insurance, forest insurance

As an insurance customer of 18 to 27 years of age, you get a 21% discount on almost all insurance policies for home and family.

If you are an owner-customer aged 70 or above, you are entitled to discounts on only two policies, such as home and health insurance.

NewLife is a life insurance of 20,000 euros for parents of children under 12 months in the event of the parent’s death. This gives the surviving parent a better chance to carry on or to provide for the child’s education, for example.

We offer NewLife insurance to both parents separately for the next 12 months of the child’s life for free. After this, the insurance will continue automatically subject to a premium.

You can take out the policy soon after the baby is born until the child turns 1 year. The policy does not require completing a health declaration form. The insurance is issued by OP Life Assurance Company Ltd.

If you are an OP cooperative bank owner-customer or Pohjola Insurance prime customer, you will receive a free 45% increase in the amount of insurance compensation. The rate of the increase will be confirmed every year and is valid for one year at a time.

Life insurance will help your loved ones financially if you die due to illness or injury. When determining compensation, we will pay your beneficiaries compensation with a 45% increase. For example, if the benefit to be paid under life insurance is 20,000 euros, we will pay your beneficiaries 29,000 euros. You can take out life insurance either as single or joint cover with your loved one. The insurance is issued by OP Life Assurance Company Ltd.

As an OP cooperative bank owner-customer, you get a deductible benefit of up to 250 euros on MyHome Insurance.

Your deductible is waived or reduced when your property suffers damage covered under MyHome Insurance due to fire, natural phenomena or theft and the compensation paid exceeds the deductible you have selected.

For example, if a bicycle worth 600 euros is stolen and your deductible is 250 euros, you pay no deductible thanks to the deductible benefit. In the same situation, if your deductible is 500 euros, you pay just 250 euros (500 – 250) thanks to the deductible benefit.